Draganfly (DFLY) and Coldchain Delivery Systems have finalized a definitive agreement for medical delivery solutions worth C$750,000.
The companies will develop, deploy and operate solutions for the delivery of medical supplies, medicine and vaccines.
The agreement provides for phase one of a planned five-phase roll-out of a medical drone delivery service, which will include working with regulatory bodies to obtain licenses for initial non-commercial beta test delivery routes.
Phase one has a value of C$125,000 and will be executed over a maximum of ten months.
Under phase two, Coldchain will commit to purchasing no less than US$625,000 in equipment and services from Draganfly.
Cameron Chell, CEO of Draganfly, commented,
"We are excited to develop a payload system that will leverage our extensive patent portfolio as well as secured auto-pilot and flight management systems. Coldchain Delivery Systems is a leader in healthcare supply chain management and we are looking forward to helping deliver via UAV medical supplies to remote areas."
Coldchain Delivery Systems specializes in time and temperature-sensitive medical material management. Clients include the Defense Logistics Agency, the Centers for Disease Control and Prevention, Johnson & Johnson and the Chicago Department of Public Health.
Draganfly creates quality drone solutions, software and AI systems.
Draganfly (DFLY) is down by 1.29 per cent and is currently trading at $1.53 per share as of 11:31 am ET.